Bandula challenges 'Foreign Exchange 2017' bill

The petition seeks a declaration that the bill shall become law only through a two-third majority in Parliament and the approval of the people at a referendum.

The petition states that a bill titled “Foreign Exchange, 2017" was presented to the Parliament and placed on Order Paper of the Parliament on April 7, 2017 and certain clauses are in violation of and inconsistent with Articles 03, 04, 12(1), 14(1)(g), 75 and 148 of the Constitution. It abrogates the power of Parliament to have full control over public finance as enshrined by Article 148 of the Constitution.

The petition added that the bill empowers the Minister and the cabinet of Ministers with the authority to be in charge of and thereby to regulate and control affairs and matters in relation to foreign exchange and all instructions authorised to act as dealers or otherwise dealing with foreign exchange.